Loan sharks are illegal money lenders who take advantage of others for their own gain and benefit. There are however many resources out there to help if you are a victim of loan sharks.
https://www.stoploansharks.co.uk/ Stop Loan Sharks investigates and prosecutes illegal money lenders and provides support for borrowers in the UK.
If you have borrowed from a loan shark or are worried about someone else, they are there to help and keep you safe.
Call 24/7 on 0300 555 2222 or start a Live Chat by clicking on the chat icon in the bottom right-hand corner of the screen on their website and they will be able to offer assistance with any query or issue you may have.
Here are some ways to Spot a Loan shark, please be on the lookout for any of the following and contact 0300 555 2222 if you feel you have been a victim:
- Have you been offered a loan or money transfer?
- Has the lender taken your bank card, passport & other valuables from you
- Does the lender have no Paperwork?
- Does the lender have extortionate interest rates
- Do they use threats of violence if you cannot pay
If you are in need of financial help then please reach out to our Money advice team here
or speak to Stockport Credit Union for help with affordable financial services here
Illegal money lenders and “loan sharks” take advantage of people and communities, often using fear, threats and violence on ever increasing debts. As the cost of living continues to rise, Stockport Homes are committed to supporting all customers in debt or in risk of falling into debt. We urge any customers affected by illegal money lending to report it to us or Greater Manchester Police, anonymously or in person and we will act on itExecutive Director of Operations